What does "R" in Undeposited Funds account stand for? The QB AI answer says "funds received, but not deposited" which is nonsense. Can someone explain, please.

Hello, treasurer4etc. The R status in your Undeposited Funds account means the transaction has moved out from the holding area into your Bank Register. Let me discuss it below.

In the Chart of Accounts, this status appears once you create a Bank Deposit and select payments from Undeposited Funds, QuickBooks Online (QBO) marks these transactions as Reconciled (R), which shows that you have moved to the selected bank account.

To verify the details, click on the transaction and select Edit. This opens the deposit screen, where you can view the transaction's origin, the deposit amount, and the date, located just below the customer's name. Please see the screenshot below for reference.

Additionally, do you need assistance organizing your transactions or data within your company? Our QuickBooks Live Expert Assisted team provides the tips and guidance to streamline this process.

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